UNITED KINGDOM October 27 2016 6:29 PM
LONDON (Scrap Register): Northern Europe hot rolled cold (HRC) steel prices advanced by €02 a ton week-on-week to €421 per ton in the week ended August 12, as per the latest figures released by The Steel Index.
The European steel market was slow during the week, as can be expected for this time of the year. In Northern Europe, mills’ offers were stable and HRC transactions concluded around the €420 a ton mark, similar to previous week.
The South European market was particularly quiet, and is likely to remain so next week, as well, as many service centers and traders in Italy are shut for most of August.
Market participants are beginning to look at September, anticipating that we can see some price increases given the lack of import options.
